Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

The following is a summary of our senior notes payable and other debt as of December 31, 2014 and 2013:



	2014			2013
	(In thousands)
Unsecured revolving credit facility (1)	$	919,099		$	376,343
3.125% Senior Notes due 2015	400,000			400,000
6% Senior Notes due 2015	234,420			234,420
1.55% Senior Notes due 2016	550,000			550,000
1.250% Senior Notes due 2017	300,000			—
2.00% Senior Notes due 2018	700,000			700,000
Unsecured term loan due 2018 (2)	200,000			200,000
Unsecured term loan due 2019 (2)	790,634			800,702
4.00% Senior Notes due 2019	600,000			600,000
3.00% Senior Notes, Series A due 2019 (3)	344,204			—
2.700% Senior Notes due 2020	500,000			500,000
4.750% Senior Notes due 2021	700,000			700,000
4.25% Senior Notes due 2022	600,000			600,000
3.25% Senior Notes due 2022	500,000			500,000
3.750% Senior Notes due 2024	400,000			—
4.125% Senior Notes, Series B due 2024 (3)	215,128			—
6.90% Senior Notes due 2037	52,400			52,400
6.59% Senior Notes due 2038	22,973			22,973
5.45% Senior Notes due 2043	258,750			258,750
5.70% Senior Notes due 2043	300,000			300,000
Mortgage loans and other (4)	2,284,763			2,524,889
Total	10,872,371			9,320,477
Unamortized fair value adjustment	41,853			69,611
Unamortized discounts	(26,132		)	(25,096		)
Senior notes payable and other debt	$	10,888,092		$	9,364,992

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(1)	$164.1 million and $7.3 million of aggregate borrowings are denominated in Canadian dollars as of December 31, 2014 and 2013, respectively.


(2)	These amounts represent in aggregate the approximate $1.0 billion of unsecured term loan borrowings under our unsecured credit facility, of which $107.0 million of borrowings included in the 2019 tranche are denominated in Canadian dollar borrowings.


(3)	These senior notes are denominated in Canadian dollars.


(4)	2014 excludes $43.5 million of mortgage debt related to real estate assets classified as held for sale as of December 31, 2014 that is included in accounts payable and other liabilities on our Consolidated Balance Sheet. 2013 excludes $13.1 million of mortgage debt that is included in accounts payable and other liabilities on our Consolidated Balance Sheet.

As of December 31, 2014, our indebtedness had the following maturities:



	Principal Amount Due at Maturity		Unsecured Revolving Credit Facility(1)		Scheduled Periodic Amortization		Total Maturities
	(In thousands)
2015 (2)	$	704,082	$	—	$	41,765	$	745,847
2016 (2)	861,817		—		37,913		899,730
2017 (2)	777,127		—		27,500		804,627
2018 (2)	1,075,209		919,099		21,585		2,015,893
2019	2,294,979		—		13,985		2,308,964
Thereafter (3)	3,952,366		—		144,944		4,097,310
Total maturities	$	9,665,580	$	919,099	$	287,692	$	10,872,371


(1)	At December 31, 2014, we had $55.3 million of unrestricted cash and cash equivalents, for $863.8 million of net borrowings outstanding under our unsecured revolving credit facility.


(2)	Excludes $43.5 million of mortgage debt related to real estate assets classified as held for sale as of December 31, 2014 that is scheduled to mature between 2015 and 2018.


(3)	Includes $52.4 million aggregate principal amount of 6.90% senior notes due 2037 that is subject to repurchase, at the option of the holders, on October 1 in each of 2017 and 2027, and $23.0 million aggregate principal amount of 6.59% senior notes due 2038 that is subject to repurchase, at the option of the holders, on July 7 in each of 2018, 2023 and 2028.